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Financial instruments (Tables) | 12 Months Ended
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Dec. 31, 2021
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Financial Instruments | Fair value of financial instruments
December 31, 2021 | Carrying amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Long-term investments carried at fair value | $ | 1,848,456 |  |  | $ | 1,848,456 |  |  | $ | 1,753,210 |  |  | $ | — |  |  | $ | 95,246 |
Development loans and other receivables | 32,261 |  |  | 33,286 |  |  | — |  |  | 33,286 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 15,362 |  |  | 15,362 |  |  | — |  |  | — |  |  | 15,362 |
Interest rate swap designated as a hedge | 1,581 |  |  | 1,581 |  |  | — |  |  | 1,581 |  |  | — |
Commodity contracts for regulated operations | 1,721 |  |  | 1,721 |  |  | — |  |  | 1,721 |  |  | — |
Cross currency swap designated as a net investment hedge | 1,958 |  |  | 1,958 |  |  | — |  |  | 1,958 |  |  | — |
Total derivative instruments | 20,622 |  |  | 20,622 |  |  | — |  |  | 5,260 |  |  | 15,362 |
Total financial assets | $ | 1,901,339 |  |  | $ | 1,902,364 |  |  | $ | 1,753,210 |  |  | $ | 38,546 |  |  | $ | 110,608 |
Long-term debt | $ | 6,211,375 |  |  | $ | 6,543,933 |  |  | $ | 2,418,580 |  |  | $ | 4,125,352 |  |  | $ | — |
Notes payable to related party | 25,808 |  |  | 25,808 |  |  | — |  |  | 25,808 |  |  | — |
Convertible debentures | 277 |  |  | 519 |  |  | 519 |  |  | — |  |  | — |
Preferred shares, Series C | 13,348 |  |  | 14,580 |  |  | — |  |  | 14,580 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 60,462 |  |  | 60,462 |  |  | — |  |  | — |  |  | 60,462 |
Energy contracts not designated as a cash flow hedge | 1,169 |  |  | 1,169 |  |  | — |  |  | — |  |  | 1,169 |
Cross-currency swap designated as a net investment hedge | 50,258 |  |  | 50,258 |  |  | — |  |  | 50,258 |  |  | — |
Interest rate swaps designated as a hedge | 7,008 |  |  | 7,008 |  |  | — |  |  | 7,008 |  |  | — |
Commodity contracts for regulated operations | 1,348 |  |  | 1,348 |  |  | — |  |  | 1,348 |  |  | — |
Total derivative instruments | 120,245 |  |  | 120,245 |  |  | — |  |  | 58,614 |  |  | 61,631 |
Total financial liabilities | $ | 6,371,053 |  |  | $ | 6,705,085 |  |  | $ | 2,419,099 |  |  | $ | 4,224,354 |  |  | $ | 61,631 |
24.Financial instruments (continued) (a)Fair value of financial instruments (continued)
December 31, 2020 | Carrying amount |  | Fair value |  | Level 1 |  | Level 2 |  | Level 3
Long-term investment carried at fair value | $ | 1,839,212 |  |  | $ | 1,839,212 |  |  | $ | 1,708,683 |  |  | $ | 20,015 |  |  | $ | 110,514 |
Development loans and other receivables | 23,804 |  |  | 31,088 |  |  | — |  |  | 31,088 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 51,525 |  |  | 51,525 |  |  | — |  |  | — |  |  | 51,525 |
Energy contracts not designated as a cash flow hedge | 388 |  |  | 388 |  |  | — |  |  | — |  |  | 388 |
Commodity contracts for regulatory operations | 194 |  |  | 194 |  |  | — |  |  | 194 |  |  | — |
Total derivative instruments | 52,107 |  |  | 52,107 |  |  | — |  |  | 194 |  |  | 51,913 |
Total financial assets | $ | 1,915,123 |  |  | $ | 1,922,407 |  |  | $ | 1,708,683 |  |  | $ | 51,297 |  |  | $ | 162,427 |
Long-term debt | $ | 4,538,470 |  |  | $ | 5,140,059 |  |  | $ | 2,316,586 |  |  | $ | 2,823,473 |  |  | $ | — |
Notes payable to related party | 30,493 |  |  | 30,493 |  |  | — |  |  | 30,493 |  |  | — |
Convertible debentures | 295 |  |  | 623 |  |  | 623 |  |  | — |  |  | — |
Preferred shares, Series C | 13,698 |  |  | 15,565 |  |  | — |  |  | 15,565 |  |  | — |
Derivative instruments: |  |  |  |  |  |  |  |  |
Energy contracts designated as a cash flow hedge | 5,597 |  |  | 5,597 |  |  | — |  |  | — |  |  | 5,597 |
Energy contracts not designated as a cash flow hedge | 332 |  |  | 332 |  |  | — |  |  | — |  |  | 332 |
Cross-currency swap designated as a net investment hedge | 84,218 |  |  | 84,218 |  |  | — |  |  | 84,218 |  |  | — |
Forward Interest rate swaps designated as a hedge | 19,649 |  |  | 19,649 |  |  | — |  |  | 19,649 |  |  | — |
Commodity contracts for regulated operations | 614 |  |  | 614 |  |  | — |  |  | 614 |  |  | — |
Total derivative instruments | 110,410 |  |  | 110,410 |  |  | — |  |  | 104,481 |  |  | 5,929 |
Total financial liabilities | $ | 4,693,366 |  |  | $ | 5,297,150 |  |  | $ | 2,317,209 |  |  | $ | 2,974,012 |  |  | $ | 5,929 |
Summary of Commodity Volumes Associated with Derivative Contracts | The following are commodity volumes, in dekatherms (“dths”), associated with the above derivative contracts:
| 2021
Financial contracts: Swaps | 3,239,873 |
Options | 165,671 |
| 3,405,544 |
Schedule of Long-Term Energy Derivative Contracts | The Company reduces the price risk on the expected future sale of power generation at the Sandy Ridge, Senate and Minonk Wind Facilities by entering into the following long-term energy derivative contracts.
Notional quantity (MW-hrs) |  | Expiry |  | Receive average prices (per MW-hr) |  | Pay floating price (per MW-hr)
4,585,008 |  |  | September 2030 |  | $24.54 |  | Illinois Hub
527,931 |  |  | December 2028 |  | $32.11 |  | PJM Western HUB
2,465,763 |  |  | December 2027 |  | $23.67 |  | NI HUB
1,998,095 |  |  | December 2027 |  | $36.46 |  | ERCORT North HUB
Schedule of Derivative Financial Instruments Designated as Cash Flow Hedge, Effect on Consolidated Statement of Operations | The following table summarizes OCI attributable to derivative financial instruments designated as a cash flow hedge:
|  |  |  |  | 2021 |  | 2020
Effective portion of cash flow hedge |  |  |  |  | $ | (97,103) |  |  | $ | (13,418) |
Amortization of cash flow hedge |  |  |  |  | (2,132) |  |  | (1,248) |
Amounts reclassified from AOCI |  |  |  |  | 44,904 |  |  | (9,616) |
OCI attributable to shareholders of AQN |  |  |  |  | $ | (54,331) |  |  | $ | (24,282) |
Schedule of Effects on Statement of Operations of Derivative Financial Instruments Not Designated as Hedges | The effects on the consolidated statements of operations of derivative financial instruments not designated as hedges consist of the following:
|  |  |  |  | 2021 |  | 2020
Change in unrealized loss on derivative financial instruments: |  |  |  |  |  |  |
Energy derivative contracts |  |  |  |  | $ | (5,353) |  |  | $ | (901) |
Total change in unrealized loss on derivative financial instruments |  |  |  |  | $ | (5,353) |  |  | $ | (901) |
Realized gain (loss) on derivative financial instruments: |  |  |  |  |  |  |
Energy derivative contracts |  |  |  |  | $ | (108) |  |  | $ | (1,145) |
Currency forward contract |  |  |  |  | 2,329 |  |  | 2,363 |
Total realized loss on derivative financial instruments |  |  |  |  | $ | 2,221 |  |  | $ | 1,218 |
Loss on derivative financial instruments not accounted for as hedges |  |  |  |  | (3,132) |  |  | 317 |
Amortization of AOCI gains frozen as a result of hedge dedesignation |  |  |  |  | 3,712 |  |  | 3,009 |
|  |  |  |  | $ | 580 |  |  | $ | 3,326 |
Amounts recognized in the consolidated statements of operations consist of: |  |  |  |  |  |  |
Gain (loss) on derivative financial instruments |  |  |  |  | $ | (1,749) |  |  | $ | 964 |
Gain on foreign exchange |  |  |  |  | 2,329 |  |  | 2,362 |
|  |  |  |  | $ | 580 |  |  | $ | 3,326 |
Schedule of Maximum Credit Risk Exposure for Financial Instruments | As of December 31, 2021, the Company’s maximum exposure to credit risk for these financial instruments was as follows:
|  |  |  |  | 2021
Cash and cash equivalents and restricted cash |  |  |  |  | $ | 161,389 |
Accounts receivable |  |  |  |  | 422,752 |
Allowance for doubtful accounts |  |  |  |  | (19,327) |
Notes receivable |  |  |  |  | 31,468 |
|  |  |  |  | $ | 596,282 |
Schedule of Liabilities Maturity Profile | The Company’s liabilities mature as follows:
| Due less than 1 year |  | Due 2 to 3 years |  | Due 4 to 5 years |  | Due after 5 years |  | Total
Long-term debt obligations | $ | 834,645 |  |  | $ | 500,070 |  |  | $ | 1,217,235 |  |  | $ | 3,671,384 |  |  | $ | 6,223,334 |
Interest on long-term debt | 196,824 |  |  | 348,479 |  |  | 297,461 |  |  | 1,004,448 |  |  | 1,847,212 |
Purchase obligations | 614,024 |  |  | — |  |  | — |  |  | — |  |  | 614,024 |
Environmental obligation | 12,751 |  |  | 23,876 |  |  | 1,066 |  |  | 19,474 |  |  | 57,167 |
Advances in aid of construction | 1,706 |  |  | — |  |  | — |  |  | 80,874 |  |  | 82,580 |
Derivative financial instruments: |  |  |  |  |  |  |  |  |
Cross-currency swap | 27,936 |  |  | 23,115 |  |  | 2,604 |  |  | 1,888 |  |  | 55,543 |
Interest rate swaps | 2,145 |  |  | 2,141 |  |  | 1,335 |  |  | 1,394 |  |  | 7,015 |
Energy derivative and commodity contracts | 8,489 |  |  | 20,148 |  |  | 16,517 |  |  | 17,826 |  |  | 62,980 |
Contract adjustment payments on Green Equity Units | 75,555 |  |  | 112,025 |  |  | — |  |  | — |  |  | 187,580 |
Other obligations | 66,916 |  |  | 4,473 |  |  | 4,427 |  |  | 260,111 |  |  | 335,927 |
Total obligations | $ | 1,840,991 |  |  | $ | 1,034,327 |  |  | $ | 1,540,645 |  |  | $ | 5,057,399 |  |  | $ | 9,473,362 |

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- Definition Tabular disclosure of credit derivatives which includes information by sellers of credit derivatives, about each credit derivative, or each group of similar credit derivatives, including (a) the nature of the credit derivative - its term, how it arose, the events or circumstances that would require the seller to perform under the credit derivative, and the current status of the payment/performance risk of the credit derivative; (b) the maximum potential amount of future payments (undiscounted) the seller could be required to make under the credit derivative; (c) the current fair value of the credit derivative; and (d) the nature of any recourse provisions under the credit derivative, and any assets held either as collateral or by third parties. A credit derivative is a derivative instrument (1) in which one or more of its underlyings are related to the credit risk of a specified entity (or a group of entities) or an index based on the credit risk of a group of entities and (2) that exposes the seller to potential loss from credit-risk-related events specified in the contract. Examples of credit derivatives within the scope of this paragraph include, but are not limited to, credit default swaps, credit spread options, and credit index products; also includes a hybrid instrument that has an embedded credit derivative (for example, but not limited to, a credit-linked note). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5708773-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5708775-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4L -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5708777-113959 + Details
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